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CHOROS System

  • #14,661
  • Oct 17, 2019 6:35am Oct 17, 2019 6:35am
At the moment the usdchf is trending down nicely.
  • #14,662
  • Oct 17, 2019 1:58pm Oct 17, 2019 1:58pm
So much to read on this thread. So interesting following years of advise on one thread. It’s wonderful to be able to learn something new. Trading is difficult no wonder so many come and fail, or is it that many do not want to learn and put in the effort. Most people don’t want to put in the countless hours of effort to succeed, which leads to a winning mentality. I come from a medical background so I like to follow rules and order. The dance gives a structure to the market as Ray termed a flow. One cannot succeed unless there is a road map and a way forward, hardwire always overcomes talent. Never give up always continue forward one step at a time.
  • #14,663
  • Oct 17, 2019 2:12pm Oct 17, 2019 2:12pm
Three wonderful sayings
The wise is able to learn from others
The strong is able to control his inner self
The wealthy is content with what he has
  • #14,664
  • Oct 19, 2019 12:58am Oct 19, 2019 12:58am
Could some one post an example of when the 62 ma is used.
Many thanks
  • #14,665
  • Oct 19, 2019 2:05am Oct 19, 2019 2:05am
Why would you use it? Just stick to 10 & 35/50. There is no need for anything else unless you get advanced enough to make some aware and sensible changes to the method on your own. Before that if you wont be able to put 35/50 to work than 62 is not going to help IMHO.

Best,
J.
  • #14,666
  • Oct 19, 2019 2:16am Oct 19, 2019 2:16am
Quoting Forex5151
Heads up for next week, check GBPUSD on the weekly chart and look where it is at. Could be potential for a massive short
market makers always go against the retailer;s sentiments,they proved you wrong.pair went higher instead of falling.

market makers are using Brexit to disturb the market,it is all better to avoid gbp pairs ATM.Retail traders are very small ,Giant dealers move the market against us ,so trade in line with them or avoid major pairs.
  • #14,667
  • Oct 19, 2019 3:51am Oct 19, 2019 3:51am
Hello,

Are both correct by the rules two bar retracements or only second one? The picture is just an example, it is a simplification of 2 bar retracing to MA10 from an area of consolidation/uncertainty after a higher high (1). Or does it always have to count directly from that highest high (2)?

Am I correct to think that no 1 could be legit in a strong setup but would be still potentially weaker than no 2 and if traded one should be more careful with it?

Everyone experienced with the method is welcome to answer but I mostly look forward to Kostas, obviously. Thanks in advance.
Attached Image (click to enlarge)
Click to Enlarge Name: 1stTouch2bar.jpg Size: 60 KB
  • #14,668
  • Oct 19, 2019 5:06am Oct 19, 2019 5:06am
Thank you Jkdt, but I am wanting a real live past example with explanation why the 62 ma was used.
  • #14,669
  • Oct 19, 2019 7:06am Oct 19, 2019 7:06am
It is interesting to see how many of the original trader from the dance have changed trading techniques. The secret to everything is consistency.
  • #14,670
  • Oct 21, 2019 4:28am Oct 21, 2019 4:28am
First trade using dance system. I hope it will be consistent.
Attached Image (click to enlarge)
Click to Enlarge Name: 1571649909180.jpg Size: 408 KB
  • #14,671
  • Oct 21, 2019 9:54am Oct 21, 2019 9:54am
Quoting Jkdt
Hello, Are both correct by the rules two bar retracements or only second one? The picture is just an example, it is a simplification of 2 bar retracing to MA10 from an area of consolidation/uncertainty after a higher high (1). Or does it always have to count directly from that highest high (2)? Am I correct to think that no 1 could be legit in a strong setup but would be still potentially weaker than no 2 and if traded one should be more careful with it? Everyone experienced with the method is welcome to answer but I mostly look forward to Kostas,...
As my understanding, only #2 is two-bars retrace and has higher probability to resume uptrend if it is 1st retrace.
#1 using more bars to get there, thus a red H1 bar formed which may cause reversal.
  • #14,672
  • Oct 21, 2019 10:00am Oct 21, 2019 10:00am
Just entered this EU trade, 2 bars retrace, let's see how far it will go.
Attached Image (click to enlarge)
Click to Enlarge Name: eu1021.png Size: 49 KB
  • #14,673
  • Oct 22, 2019 7:58am Oct 22, 2019 7:58am
1st trade: GU +4p, 30 pips profit after 25 mins of entry, but I was expecting more, holding one more hour and hurried out with 4 pips. Lesson learnt: prepare to take your pips (or take partial lots) if it more than 15-20 pips.

2nd trade: UC +16p, no regret moving another 10+ pips in my direction after exit.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gu1022.png Size: 45 KB
Click to Enlarge Name: uc1022.png Size: 26 KB
  • #14,674
  • Oct 22, 2019 8:53am Oct 22, 2019 8:53am
Hi Larry well done. I would have taken the 1 st touch 3 bars before on the first graph
  • #14,675
  • Edited Oct 23, 2019 3:41am Oct 22, 2019 2:26pm | Edited Oct 23, 2019 3:41am
Quoting Gragab
Hi Larry well done. I would have taken the 1 st touch 3 bars before on the first graph
I have to disagree. Maybe this is not so obvious once you see what happened later but while the touch happened the MAs were really flat. Besides you need a dynamic move down and a dynamic retrace for a valid touch trade, here the price was barely moving. I would definitely wait and take the same touch as Larryw had. I could consider entering on COB of this bar rather as a rejection than touch but it would need to have a smaller body offering a smaller SL placed above the wick.
  • #14,676
  • Oct 23, 2019 6:33am Oct 23, 2019 6:33am
I see constrainment on the H4 Eurusd
  • #14,677
  • Oct 23, 2019 9:02am Oct 23, 2019 9:02am
Constrainment also on H4 Gbpusd
  • #14,678
  • Oct 23, 2019 1:28pm Oct 23, 2019 1:28pm
Quoting Gragab
Constrainment also on H4 Gbpusd
These calls maybe better to post in Choros Interactive: https://www.forexfactory.com/showthread.php?t=303258
The reason is to keep this thread uncluttered.

Also make your calls more specific with which MA or DP or RN is involved and at what price.
  • #14,679
  • Oct 23, 2019 6:18pm Oct 23, 2019 6:18pm
Does anyone know if there is a video on this strategy on Youtube? Or anywhere?

Much Thanks
  • #14,680
  • Oct 23, 2019 9:28pm Oct 23, 2019 9:28pm
Quoting Sesamstrasse
{quote} Hi alper. The two bar rule means two bars retracing to a Ema touch in a trend.. Two red bars in a long setup/two green in a short setup to get there.
hey sesamstrasse, does the retrace have to be strictly over 15 pips as well towards an ma touch?

thanks!
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